2011 GOLD high $1,500.00, SILVER high $24.00

True, it was only a $36 pullback today, and that will be forgotten for the most part tomorrow if it doesn't drop more. But another similar drop will have more people wondering if their investment is better off elsewhere. There was an article on Minyanville.com about john Paulson of GLD fame where it pointed out a main point. Sooner or later, every investor has to find someone they can sell to at a higher price to make a profit if they are investing rather than just hording and praying for it to keep going up. Accumulating, hording, keeping for ever is OK if you really don't care if the price/value goes up or down, just seeing your precious metal when you want is enough. But most seem to want to do this AND make money at the same time, but to do hording would be very scary to me, you are dependent on financial serendipity. If you are accumulating and want to make money ( investment), you must have an exit plan to get out safely. You don't want to be the last person on earth to buy gold at the all time peak. exit plans are necessary on the way up and the way down. Do not keep adding as the price goes down or up, UNLESS you have researched very deeply in the financial economy of precious metals, and plan an exit strategy also for downward movement that provide you some cash and reduce your exposure. Sometimes it amazes that many buy stocks, precious metals, real estate.....without doing due diligence, research without the influence of others, and whistle in the dark mine. Sorry for the sermon, just trying to give an alternative advice.

Jim

 

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If silver can hang on and stay above $23/oz until the end of the year, then my prediction of silver finishing at $23 (or higher) on December 31, 2010 will come true.

 

nothing against you in this but I hope silver drops like a rock so I can buy more and more silver then I am able to right now...

I'm still feeling so far behind in it and need more time to get it and cheaper too

 

To make silver drop like a rock:

1) Insert silver in cupped hand(s) or container,
2) Gradually rotate hand(s) or container until upturned,
3) Allow silver to fall away from hand(s) or container
4) Do not obstruct silver as gravity engages with silver and free fall commences
5) Listen for thud-like sound or high pitched ring tone.
6) Observe ground beneath hand(s) or upturned container.
7) Note piece(s) of silver laying at rest upon the ground or floor.
8) Rock falling effect successful when crashing, ringing and all thud-like sounds cease.

Also works well with gold, platinum, palladium, gemstones and other objects of specific density or when one simply wishes to evoke said metaphor, 'drop like a rock'.

 

That's funny Krispy, also works with 401 ks too.

Steve

 

I think with 401k's there is a factor with wind resistance ?

 

Thanks, I'm here for your comedic relief during the low points in PMs rise so you all don't get that 'abandoned' feeling Elaine leaves you with in her threads...

Also note that there is considerable resistance in the form of updraft caused by 'hot air' coming from the media, blogging "analysts" and TV PM hucksters, and of course conspiracists.

 

say what you want about conspiracists and tv pm hucksters just don't bring G Gordon Liddy to that level... he was pardoned so that means he never did anything wrong like breaking the lawand MUST be a true American Hero...like Gumbi and Captain Insano

p.s. I'm not done with driving down pm prices to scare you away Elaine... so run to your house made of platinium with a palladium mailbox and hide under the silver sheets on you golden bed...

 

Poor Elaine......that`s gotta sting......even all the way across the pond.

Being a newb on this site I could not understand the light hearted "feud" that some people on here have with Her, but I noticed real quick that She ignores almost every post/response that pertains to Her.....yet She`ll continue to pump up the PMs as if nothing ever happened.....:scratch:

 

A mystery cheerleader of PMs she shall remain... sidelined when the price tumbles, jumping and pumping for golden joy when it's up and trending towards here "predicted" high prices...

 

I think thats a little unfair. This is her thread, she started the subject and have never seen her say a bad word to anyone here. I personally like her upbeat attitude even if I disagree many times.

I think she adds a lot of good attitude to this board. Thanks Elaine!

 

Unfair...? You're relatively new yet to these threads. She dishes it back at us too, but only when she's on her on an up market day. She keeps threads going but the point is it's one sided, up-only posts, only talks about PM movement in one direction, only posts links to stories supporting massive uptrend predictions. PMs move both ways, all the time. The contrary down-side to PMs has a place in these threads too. Her ability to praise upward movements panders to a PM-bug crowd that may well be mislead by that bias alone. This isn't unfair. It's ribbing to keep things in check, a counter-point per say.

 

She's a gold bug....not a gold bear....hehehe.....

 

Krispy is "a fly in the ointment, a monkey in the wrench, a pain in the a**." (anybody know what movie those lines were in?)

Seriously though....it`s good to have different perspectives, opinions, and opposing viewpoints on these threads. For the most part We all keep it civil and respectful, and I always look forward to these forums. :thumb:

 

Die Hard.

 

Nice....not only is Krispy good for some comedic relief.....He knows His 80`s pop culture too. :smile (next time I`ll give Ya some tougher quotes)

 

In lieu of your regularly scheduled host this week, here are the week ending numbers:

Currently: After the close of US markets for Friday, 10/22/2010

Gold: $1,328.70/oz. -- Low: $1,324.60, High: $1,329.50 -- Up +2.00 (+0.15%)
Silver: $23.31/oz. -- Low: $23.20, High: $23.31 -- Up +0.13 (+0.56%)
Platinum: $1683/oz. -- Low: $1,670, High: $1684 -- Down -1.00 (-0.06%)
Palladium: $594/oz. -- Low: $566, High: $584 -- Up +3.00 (+0.51%)

​

 

Seriously, I know elaine is a gold bug....hence the goldbug/bear statement. But she's not even trying to stick around when prices dip. Not even a hello!

 

I hate to say, "I told you so." but... LOL! she appears very biased and one dimensional in this disregard... but honestly I hope she didn't get blown away by that cyclone Juan that recently swept over the Philippines, as she hasn't posted since that storm cycle occurred.

 

Now would be a good time for her to say HELLO so we know she is ok....I think that should be worthy no?